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NASDAQ OMX: December 18 Energy Commentary

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Thomson Reuters
December 18, 2013


Oil and gas stocks rebounded from earlier losses with gains led by integrateds and refiners with both groups hitting new annual highs after the Federal Reserve announced it would begin to pare back its stimulus efforts. Drillers underperformed the space, led by a 3% decrease in Ensco Plc with several firms lowering their estimates after the company released a negative Fleet Status report for December.

WTI closed at $97.80 up $0.58 or 0.60% and Brent rose 1% shrugging off the news by the Fed’s decision to begin tapering ...

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